A publicly traded medical-device company from Pennsylvania will purchase San Antonio-based Vidacare Corp. for more than a quarter of a billion dollars in a deal expected to close later this year.

Vidacare, a privately held company established in 2001 that employs 165 people worldwide, has signed an agreement stipulating that Teleflex Inc. will purchase the company for $262.5 million plus Vidacare's net cash, officials with both firms said.

Total proceeds to be distributed to Vidacare's shareholders and vested option holders are expected to be $285 million, company officials said.

The all-cash transaction is expected to close by Dec. 31.

Vidacare makes a patented power driver and needle system that allows paramedics and doctors to inject medications and fluids into patients' bones when traditional IVs cannot be used because patients' veins have collapsed.

Teleflex President and CEO Benson Smith said he doesn't anticipate significant job losses or the immediate relocation of the San Antonio operation.

“Typically, a good percentage of companies that we acquire end up working for Teleflex,” Smith said Wednesday. “I think once the transaction takes place, the vast majority of those (Vidacare) employees will become Teleflex employees.”

Smith gave few details on where those employees will do their work, however.

“We go through this process with an open mind — we're just really now starting to have our first conversations (with Vidacare) about the integration process and really can't say much,” he said. “We have locations in 130 different places around the world, so we're not centered in one location.”

Teleflex has 11,500 employees worldwide.

Vidacare President and CEO Mark Mellin did not immediately respond to a request for comment Wednesday.

“Our agreement with Teleflex ... represents an attractive valuation for Vidacare and provides liquidity to our shareholders,” Mellin said in a prepared statement released by the company. “I believe that this merger represents a unique opportunity for the combined companies to strategically expand and grow Vidacare's intraosseous access technology platform.”

The merger has been approved by Vidacare's board of directors and those holding a majority of the company's outstanding capital stock. A detailed summary of the transaction and the merger agreement have been provided to other Vidacare stockholders for their approval.